Every Union budget is shaped by the backdrop in which it is conceived; this year more so than others.On the one hand, you have a fragile global economy with an unreliable US as its nucleus; domestically, India is still measuring the aftershocks of demonetisation even as corporate India continues to struggle with its funk, precluding new investments. On the other hand, this budget, to be presented on 1 February, comes just three days ahead of the latest round of elections, which includes the biggest prize—Uttar Pradesh. Clearly, the stakes are higher than normal. So what will finance minister Arun Jaitley opt for in what will be his fourth budget? Good economics, good politics or the perfect score—a mix of both? Whatever the answer, it will shape the remaining tenure of the government (which crossed its midpoint in December) led by Prime Minister Narendra Modi. Clearly, content alone won’t matter; the crafting of the speech will be equally important. The suspense will be over in a little over two weeks from today.

(Live Mint)